Global markets at a glance

Asian shares cautiously edged higher on Tuesday as investors awaited a U.S. Federal Reserve meeting beginning later
in the session, as expectations of a more hawkish Fed
stance on monetary policy underpinned the dollar. MSCI's
broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was slightly higher in early trade. Japan's Nikkei stock average shed 0.4%, catching up after
Tokyo markets were closed for a local holiday on Monday.
European shares slipped on Monday, with stocks trading in
a narrow range before Scotland votes on independence
and the Federal Reserve holds its latest policy meeting,
both events that are due later this week. The FTSEurofirst
300 index of top European shares ended 0.05% lower at
1,382.32 ps.

Wall Street

Wall Street had a mixed session on Monday after weekend
data showed China's factory output in August grew at its
slowest pace in nearly six years, raising fears the world's
second-largest economy was losing momentum.
US stocks closed mixed on Monday as the tech sector
dragged the Nasdaq to its worst day since July and kept the
S&P 500 near the unchanged mark as investors cleared the
decks for Alibaba's debut planned for later this week.

MACRO NEWS

India's services exports in July rose 7.4% from a year ago
to USD 13.34 bn, data from the RBI showed. However,
import of services during the month rose marginally by a
3 percent from a year ago to USD 6.82 bn.
Oil Ministry extends deadline for comments on revenue
sharing draft. The companies will have to indicate the
quantity of oil and gas they will share with the government at different stages of production.
Gilead licenses hepatitis C drug to Cipla, Ranbaxy, 5 others
The companies will be allowed to set their own prices for
the generic drug, and will pay a royalty on their earned
sales to Gilead.

STOCKS IN NEWS

Suzuki to increase market share in motorcycles segment to 5%.
HeroMotoCorp plans to invest Rs 1600cr in new plant.
Lupin likely to sign $1.5 bn deal with Merck Serono.
JSW Steel plans to acquire Italy's Lucchini for sub $100
mn.
Cognizant to acquire healthcare IT firm TriZetto for
$2.7bn.
JSW says its offer for Italian steelmaker Lucchini is below $100 mln.

COMMODITY ROUNDUP

Gold rose 0.33% to Rs 27,170 per 10 grams in futures trade
yesterday as participants engaged in enlarging positions on
a firming trend overseas. At MCX, the metal for delivery in
far-month December gained Rs 90, or 0.33%, to trade at Rs
27,170 per 10 grams in a turnover of 153 lots. October gold
moved up by Rs 80, or 0.30%, to Rs 26,978 per 10 grams,
clocking a business volume of 2,710 lots. The rise in global
markets where gold rallied from an 8-month low supported
the rise in precious metal prices at futures trade here.
There was speculation that reduced prices may spur purchases before the Federal Reserve begins a two-day policy
meeting. Globally, gold climbed 0.40% to $1,235.07 an
ounce in Singapore.

CURRENCY ROUNDUP

The Indian rupee breached 61 level, hitting a four-month
low on the bank of weakness in equity markets and increased demand for dollars overseas. The Indian rupee hit a
one-month low and saw its biggest single-day decline in
nearly one-and-a-half months on Monday, tracking weakness in other Asian currencies, while dollar demand from
custodian banks due to the fall in the share market also
hurt.
Asian currencies took a hammering on Monday and the dollar further strengthened after data out on Saturday showed
China's factory output grew at the weakest pace in nearly
six years in August, and growth in other key sectors also
cooled.


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